Nagpur : Policybazaar, one of India’s leading online insurance platforms, today addressed the media at a press interaction held in Nagpur, highlighting the growing awareness and demand for insurance and investment products across Western India. With a younger, aspirational customer base and rising interest in market-linked solutions, Nagpur has emerged as a key growth market for Policybazaar’s life insurance and investment offerings.
The company noted that India’s broader economic growth story is translating into higher household consumption, deeper participation in financial markets, and a clear shift towards long-term wealth creation. Customers across the region are increasingly exploring equity-linked products and retirement solutions to build inflation-beating returns while securing their families’ financial futures.
Speaking at the event, Pradeep Yadav, Director, Policybazaar, said, “Western India is witnessing a visible shift in how people think about money. Customers today are not only focused on protection, but also on disciplined investing to participate in India’s growth story. A younger population, expanding equity markets and rising awareness are driving demand for market-linked investments and retirement solutions. Our presence in cities like Nagpur, Aurangabad, Pune, Nashik etc. allows us to offer personalized guidance and help customers choose products that align with their life goals, risk appetite and long-term.”
Plans with waiver of premium gain traction
A young and dynamic customer base is increasingly opting for equity-linked products. Among them – plans with waiver of premium – are seeing strong adoption as they combine long-term wealth creation with financial protection. These plans ensure that insurers are liable to continue paying premiums on behalf of customers in their absence due to unforeseen events. Demand for waiver of premium plans have grown six times between 2023 and 2025 and now account for about one-fourth of Policybazaar’s overall savings business.
Retirement planning moves to the forefront
Retirement planning is gaining traction across customer segments, with enquiries for retirement-focused solutions doubling from 2022. Customers are increasingly looking for investment opportunities which ensure that they have a secure long-term income or retirement fund for themselves with plans ranging from market-linked pensions, annuities and even plans with guaranteed returns.
Growing participation from HNI customers
High net worth individuals are increasingly interested in plans being offered online across both savings and term insurance categories. In savings products, HNI customers now account for nearly one-fifth of total share, three times higher than in 2023. In term insurance, monthly HNI participation has risen by 75 percent since 2023, also contributing around one-fifth of the business.
Term insurance adoption
Term insurance continues to see strong growth, led by young, salaried customers – usually employed in high-growth industries. Salaried individuals account for nearly three-fourths of demand, with this segment growing by 65% between 2023 and 2025. The number of monthly customers aged 25 to 40 has doubled, reflecting rising awareness around early financial protection.
End-to-end support across the insurance life-cycle
Policybazaar remains focused on supporting customers at every stage of their insurance journey, from plan comparison and purchase to claims assistance during critical moments. Through dedicated advisory and claims support teams, the company helps customers navigate product features, policy fine print and documentation with clarity and confidence. This end-to-end approach is designed to reduce stress for families, ensure transparency and deliver timely support when it matters most.
As insurance awareness deepens across Nagpur and other key cities in Western India, Policybazaar continues to strengthen its mission of empowering consumers with informed choice and expert guidance.
